Raine & Horne has cemented its status in rapidly growing south-western Sydney with the launch of a new office at Hoxton Park.
Peter Ly, a director of Raine & Horne’s long-term offices in Cabramatta and Canley Heights, will lead the new office at Hoxton Park, while Thai Duong will be the licensee in charge. Raine & Horne Cabramatta was launched in 1994 by Managing Director, Vic Fasan.
“Since opening our first office in south western Sydney in 1976, we have recognised the region is a crucial population growth hub,” said Angus Raine, Executive Chairman, Raine & Horne.
The South West region is projected to grow at a faster rate of 2.1% each year to 2031, compared with the rate of 1.6% for Sydney overall[i].
“The combination of population growth and the establishment of new housing estates such as Hoxton Park make southern-western Sydney strategically important for a rapidly expanding group such as Raine & Horne,” Mr Raine said.
“I’m also delighted Peter, Vic and the team have taken the opportunity to raise the Raine & Horne flag in this exciting and emerging part of Sydney.”
Hoxton Park’s proximity to the impending Western Sydney Airport at Badgerys Creek is another reason for establishing an office in the relatively new suburb, according to Mr Ly.
“Hoxton Park is under 20 minutes by road to Badgerys Creek, which will be a massive source of employment for homeowners in this area during the construction phase and once the airport is operational,” said Mr Ly, who joined the global property group in 2009.
“Hoxton Park is underserviced with real estate agents and with the region’s population growth and economic opportunities courtesy of the airport, we have an excellent opportunity to get in early and establish Raine & Horne as the leading agent.”
Mr Ly continued, “Having three offices at Cabramatta, Canley Heights and Hoxton Park also demonstrates to homeowners and buyers the strength of our brand and our long-term record in delivering consistently high levels of service in our region.”
The new office will deliver sales and property management services and will be located at 515 Cowpasture Road, Hoxton Park.
Mr Ly added, “With a median house price of $640,000, Hoxton Park is extremely affordable for new property buyers seeking bang for buck.
The Federal Government’s finalisation of the First Home Loan Deposit Scheme, which guarantees first-timers on low and middle incomes will be able to purchase a home faster with a deposit of as little as 5%, is also timely according to Mr Ly.
“Any first home buyer incentives such as the loan deposit scheme will be advantageous as they can help first home buyers get a foot in the door,” he said.
“The last five years have been hard for first home buyers in south-western Sydney, especially with investors playing a greater role in transactions. Therefore, this new incentive will be very helpful to first timers who were previously unable to save a large enough deposit to get into the market.”
That said gross yields of 4% for properties in Hoxton Park and surrounding suburbs will continue to attract investors, Mr Ly noted.
“New train lines, more retail choice and better schools will continue to attract renters to this region, which will also keep investors interested in the Hoxton Park market.”
For more information on the sales and rental markets in Hoxton Park and surrounding suburbs, contact Raine & Horne Hoxton Park on (02) 9251 6688.